ICBC announces new president and CEO

Insurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15.

Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC Hydro. He takes over from Phil Leong, who’s been the public insurer’s interim president and CEO since March and will be returning to his role as chief financial officer, ICBC said in a release issued Friday.

Most recently, Wong was executive vice president of finance, technology and supply chain, and CFO at BC Hydro. He served in a variety of senior roles while at the electric utility.

Wong also brings a decade of international private sector experience working for Teekay Corp., an international shipping company. Plus, he has served on the boards of directors of Vancity (a Vancouver-based credit union) and the BC Automobile Association, which offers home, auto and travel insurance as well as roadside assistance.

“With a strong financial background, broad career experience, values that align to ICBC’s purpose and leadership experience working for another large, complex Crown corporation, David is very well suited to lead ICBC,” Catherine Holt, ICBC board chairwoman, said in the release. “We are looking forward to working with him and the rest of the executive leadership team as he continues ICBC’s focus on providing affordable rates and improving customer experience.”

In his most recent role at BC Hydro, Wong was responsible for financial oversight, company-wide procurement, materials and fleet management, technology solutions and cybersecurity. He was also a “champion of diversity, equity and inclusion at BC Hydro and brings that same passion to ICBC along with a commitment to continuing ICBC’s Indigenous reconciliation journey,” Holt said.

Over 10 years at Teekay Corp. Wong held several senior financial roles, including CFO of Teekay Offshore and vice president and controller of Teekay Corp. Prior to his time at Teekay, he was chief accounting officer at BC Hydro, and held several senior positions (including CFO) at Powerex, a wholly-owned subsidiary of BC Hydro.

In its press release, ICBC’s board also acknowledged Leong for his time as interim president and CEO. Leong took over from former president and CEO Nicolas Jiminez, who after nearly 20 years at ICBC, left his post in February to become president and CEO of BC Ferries.

Jiminez joined ICBC in 2003 and worked in a variety of senior roles in insurance, corporate development, driver licensing and road safety. He was named president and CEO in July 2018.